Long term debt and revolving line of credit
|12 Months Ended|
Dec. 31, 2015
|Long term debt and revolving line of credit:|
|Long term debt and revolving line of credit||
Note 16 - Long term debt and revolving line of credit
Long term debt
Long term debt at December 31, 2015 and 2014 consists of the following:
Revolving line of credit
The Company has a $75,000 unsecured revolving line of credit with Bank of America, with interest at the banks prime rate plus 3% due monthly. The line of credit matures on September 4, 2016. At December 31, 2015 and 2014, the Company had $70,000 and $60,000, respectively, outstanding on the line of credit. The line is secured by a personal guarantee of WCIs president. Interest on the line of credit for the years ended December 31, 2015 and 2014 was $3,853 and $2,844, respectively.
The entire disclosure for long-term debt.
Reference 1: http://www.xbrl.org/2003/role/presentationRef